Market demand surges! Tether to issue an additional 14 billion pounds in November, maintaining its position as the stablecoin leader?

Stable Coin giants continue to expand, $USDTMarket Cap rises

In the volatile encryption market, Tether once again demonstrates its strong leadership as a stablecoin. According to the latest data provided by Lookonchain, on November 29th, Tether minted another $1 billion USDT, while on November 19th, the company minted $3 billion worth of tokens. Since November 8th, the total amount of newly minted USDT has reached $14 billion.

Image source: Lookonchain Tether minted 1 billion USDT on November 29th.

This move highlights Tether's significant position in the Stable Coin market. CCData's report 'Stablecoins & CBDCs Report' further confirms this point, with $USDT currently dominating the Stable Coin ecosystem with a market share of about 69%. In the third quarter of 2024, Tether generated an astonishing $2.5 billion in revenue for the network, further solidifying its strategic importance in the Cryptocurrency market.

Tether's CEO, Paolo Ardoino, provided a detailed explanation of 'Token minting' in August. He emphasized that these newly minted Tokens are only in an authorized state and have not been officially issued. They are mainly used for future issuance requests and cross-chain exchanges. Ardoino believes that through this method, Tether can ensure sufficient liquidity in the market and provide greater flexibility for traders.

Image source: X Tether CEO Paolo Ardoino explained that these newly minted Tokens are currently only in an authorized state and have not yet been formally issued.

Market interprets the new minting behavior, investors are positive

The recent large-scale minting of Tether coins has attracted widespread attention and in-depth analysis in the cryptocurrency market. Research from the Blockchain Research Lab provides valuable insights into this phenomenon. The study indicates that each new mint of $1 billion USDT has a significant impact on the price of Bitcoin: within 5 minutes after the new mint, the BTC price on average rises by about 0.4%, and within 30 minutes, the increase is even more substantial, reaching around 0.8%.

According to Aman Saggu's research report, investors generally interpret the new minting of $USDT as a positive signal of increasing market liquidity and rising demand. The logic behind this interpretation is that when the market needs more liquidity, Tether can provide additional stablecoin supply in a timely manner. It is worth noting that the decrease in $USDT is not seen as negative news in the market, but rather stems more from market sentiment and a bullish atmosphere, creating a fear of missing out (FOMO) mentality.

According to on-chain analysis data from Arkham Intelligence, newly minted $USDT from Tether in the past would first be sent to its multi-signature WalletWallet, and then transferred to the company's inventory. It is worth mentioning that these transactions are characterized by zero transaction fees, further highlighting Tether's strategic flexibility in the cryptocurrency market.

Click here for more information about "Tether coin" and "Stablecoin".

Tether steadily expands, Market Cap reaches a new high

The latest data shows that Tether's market capitalization has risen to an astonishing $133.56 billion, with a 24-hour volume of $102.6 billion. This marks the 13th consecutive month of market capitalization growth for the company, demonstrating its continued competitiveness and influence in the stablecoin market.

Source: Arkham Intelligence USD Market Cap has soared to an astonishing USD 133.56 billion.

In the cryptocurrency industry, traders and investors often consider the supply of stablecoins as a key indicator for evaluating market sentiment and investment interest. An increase in stablecoin supply is typically interpreted as a bullish signal in the market; conversely, a decrease in supply may imply a decline in investment interest. In this context, Tether's continued issuance of $USDT not only solidifies its market position but also provides stable liquidity support for the cryptocurrency ecosystem.

Currently, the market is closely following Tether's next move. As a leader in the Stablecoin industry, Tether's every move in the Cryptocurrency market is closely watched. Despite the rapidly changing market environment, Tether seems to have found a balance to maintain stability and competitiveness in this dynamic ecosystem.

【Disclaimer】There are risks in the market, and investment needs to be cautious. This article does not constitute investment advice, and users should consider whether any opinions, perspectives, or conclusions in this article are suitable for their specific circumstances. Invest at your own risk.

The article 'Market Demand Surges! Tether Issued an Additional 14 billion in November, Maintaining its Dominant Position as a Stable Coin?' was first published in 'encryption city'.